Brokerages expect Sotherly Hotels Inc. (NASDAQ:SOHO) to report $16.35 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Sotherly Hotels’ earnings, with the lowest sales estimate coming in at $15.70 million and the highest estimate coming in at $17.00 million. Sotherly Hotels reported sales of $37.21 million during the same quarter last year, which would suggest a negative year over year growth rate of 56.1%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, May 12th.
On average, analysts expect that Sotherly Hotels will report full year sales of $105.90 million for the current fiscal year, with estimates ranging from $105.00 million to $106.80 million. For the next financial year, analysts anticipate that the business will post sales of $180.95 million, with estimates ranging from $178.90 million to $183.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Sotherly Hotels.
Sotherly Hotels (NASDAQ:SOHO) last issued its quarterly earnings data on Wednesday, March 3rd. The real estate investment trust reported ($1.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.29). Sotherly Hotels had a negative return on equity of 49.78% and a negative net margin of 38.08%.
Separately, Zacks Investment Research cut Sotherly Hotels from a “hold” rating to a “sell” rating in a research note on Thursday, February 18th.
Shares of SOHO traded down $0.02 during midday trading on Thursday, reaching $3.14. 62,878 shares of the company were exchanged, compared to its average volume of 136,878. The stock has a 50-day moving average price of $3.34 and a 200-day moving average price of $2.85. The company has a market cap of $47.65 million, a price-to-earnings ratio of -0.94 and a beta of 2.30. Sotherly Hotels has a 1-year low of $1.48 and a 1-year high of $4.49. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 6.49.
In other news, Chairman Andrew Sims sold 21,000 shares of Sotherly Hotels stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $3.53, for a total transaction of $74,130.00. Following the sale, the chairman now directly owns 391,251 shares of the company’s stock, valued at $1,381,116.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC bought a new stake in Sotherly Hotels in the fourth quarter valued at about $26,000. Virtu Financial LLC bought a new stake in Sotherly Hotels in the fourth quarter valued at about $64,000. Squarepoint Ops LLC bought a new stake in Sotherly Hotels in the fourth quarter valued at about $110,000. Finally, Bank of New York Mellon Corp bought a new stake in Sotherly Hotels in the fourth quarter valued at about $118,000. 18.78% of the stock is currently owned by institutional investors and hedge funds.
About Sotherly Hotels
Sotherly Hotels Inc is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Currently, the Company's portfolio consists of investments in twelve hotel properties, comprising 3,156 rooms, as well as interests in two condominium hotels and their associated rental programs.
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